Navhind Multi-State Credit Cooperative Society, based in Belgaum, has achieved a significant milestone by surpassing a business mix of Rs 500 crore during the financial year 2024-25. However, the society continues to face challenges in loan recovery due to procedural complexities.
In an exclusive conversation with Indian Cooperative Society Chairman Prakash Ashtekar, accompanied by Vice-Chairman Anil Hundre, shared insights into the organization’s growth and current hurdles.
“We are steadily moving on the growth path and fulfilling the financial needs of the local population. Currently, we operate 16 branches and have plans to open four more in the near future,” Ashtekar said.
As per unaudited financials, the society has recorded a net profit of Rs 1.58 crore so far. However, officials are optimistic that in the current financial year, the profit figure could reach double digits, with dues amounting to Rs 10–15 crore expected to be recovered.
Commenting on the asset quality, the Chairman admitted, “Our NPA level is slightly elevated, but we are taking strict action against defaulters and are confident of recovering a substantial portion of the outstanding amount this year.”
Beyond banking, Navhind Society has also earned accolades for its commitment to social service. It has extended financial aid to numerous underprivileged and distressed individuals over the years.
Notably, the society contributed generously to the Latur earthquake relief fund and to the Chief Ministers’ Relief Funds of both Karnataka and Maharashtra during the COVID-19 pandemic.
In the past, the society donated Rs 10 lakh towards Yellur village’s “Jal Nirmal” (Clean Water) Project, facilitating the implementation of a Rs 2 crore infrastructure initiative that improved roads, drainage, and drinking water facilities.
Navhind’s commitment to community welfare also includes initiatives like the Navhind Awards Scheme, launched in its early days to distribute quality kitchen mixers to housewives. This scheme garnered widespread appreciation.
In recognition of its cooperative achievements, the Karnataka Government’s Department of Cooperation honored the society with the “Best Cooperative Society” award in 2004. Additionally, the Economic Growth Society of India, New Delhi, conferred upon it the prestigious “Rashtriya Vikas Ratna Award”, acknowledging its role in national development.
With a blend of strong financial management and a deep-rooted sense of social responsibility, Navhind Multi-State Cooperative Society continues to set an example in the cooperative banking sector.
